NASHIK: The Nashik Municipal Corporation (NMC) has introduced an 8% rebate for taxpayers who settle their annual property tax in one installment during April. This initiative aims to encourage prompt payments and enhance revenue collection.
Civic officials noted that this incentive mirrors last year’s program, which offered rebates of 3%-8% in April and June. The earlier initiative helped the NMC garner over Rs 100 crore in property tax within the first three months of the 2025-26 fiscal year.
Additionally, those who opt for online payment will receive a further 1% rebate, resulting in a total benefit of nearly 9% for those settling their dues in April. “For taxpayers choosing to pay in May, a 6% rebate applies,” said a civic official, adding that a 3% concession will be available for June payments.
The civic body aims for property tax collections of approximately Rs 125 crore during the April-June period of the 2026-27 fiscal year. “We have already received Rs 3.5 crore in pending property tax dues from a government agency in Nashik during the first two days of the new fiscal year. Many major defaulters are also anticipated to clear their dues this month,” revealed a senior NMC official.
This announcement follows an impressive performance in the previous fiscal year, where the NMC collected Rs 287 crore in property tax, the highest in its 43-year history. For the current fiscal year, the administration has set an ambitious target of Rs 385 crore.
In the previous year, the NMC surpassed its target by collecting Rs 256 crore against a projected Rs 250 crore. The revised target for 2025-26 was initially set at Rs 275 crore.
Officials mentioned that several measures are in place to further boost property tax revenues, including identifying underutilized properties currently not included in the tax base. Nashik city has around 6.22 lakh registered properties across six municipal divisions. Notably, the Panchavati and Cidco divisions collectively account for nearly 48% of all properties, with Cidco experiencing rapid growth—witnessing a 54% increase in registered properties (from 97,517 in 2017-18 to nearly 1.49 lakh in 2025-26).
